Fury as ‘profit-thirsty zombie’ Thames Water kept afloat by £3bn bailout

Thames Water has been granted permission to borrow £3bn in a high-cost loan deal to prevent collapse, approved by the High Court despite appeals from creditors and a Liberal Democrat MP. The company, facing £16bn debt, requires the cash injection to continue operations amidst public outrage over pollution, high bills, and executive pay. The approved restructuring plan provides a loan with a 9.75% interest rate, with the company facing special administration if not approved, while an alternative plan proposed by secondary creditors offers better terms but was not adopted.

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